Bank of England retains rate at 0.50 percent
2010-01-08 12:07:51
The Bank of England said on Thursday it was keeping its key interest rate at a record low level of 0.50 percent and maintaining credit-easing plans as Britain officially remains in recession.
"The Bank of England's Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5 percent," the BoE said in a statement.
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"The Committee also voted to continue with its programme of asset purchases totalling 200 billion pounds financed by the issuance of central bank reserves."
Markets will have to wait until January 20, when minutes of the central bank's latest meeting are published, for reasons behind the widely-expected announcements.
The bank's nine-member monetary policy committee (MPC) unveiled its decisions following a two-day meeting.
Britain's central bank had in November decided to pump out another 25 billion pounds of cash in a renewed attempt to boost lending and lift Britain out of its longest recession on record.
2010-01-08 12:07:51
The Bank of England said on Thursday it was keeping its key interest rate at a record low level of 0.50 percent and maintaining credit-easing plans as Britain officially remains in recession.
"The Bank of England's Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5 percent," the BoE said in a statement.
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"The Committee also voted to continue with its programme of asset purchases totalling 200 billion pounds financed by the issuance of central bank reserves."
Markets will have to wait until January 20, when minutes of the central bank's latest meeting are published, for reasons behind the widely-expected announcements.
The bank's nine-member monetary policy committee (MPC) unveiled its decisions following a two-day meeting.
Britain's central bank had in November decided to pump out another 25 billion pounds of cash in a renewed attempt to boost lending and lift Britain out of its longest recession on record.